NirogStreet, a technology-led Ayurveda doctor platform, has raised $4 million in a round led by CE-Ventures,the corporate venture capital platform of Crescent Enterprises and ICMG. The company said it has made Robin Jha its co-founder for its operations in India and abroad.
The round also saw participation from Gokul Rajaram, board member at Coinbase and Pinterest; Wavemaker partners; Anuj Srivastava, founder at Livspace; Rajeev Kannan, management executive officer at Sumitomo, Singapore; Suresh Vasudevan, CEO of Sysdig USA; Ramakant Sharma, cofounder of Livspace, Andy Hwang, ex-Google executive, Ashutosh Sinha, former CEO at Morgan Stanley, Dr. Kyohei Takano, a Tokyo-based gynecologist, Arup Dutta, VP of global quantitative equity at Mackenzine Investments, and Lalit Mittal, head, Livspace Interior Business.
Founded by Ram N Kumar in June 2016, the startup aims to use the funds to grow its presence and to innovate service and product offerings for Ayurveda doctors, and to scale-up and strengthen its operations. NirogStreet claims to offer its services to over 50k doctors. Its services include peer-to-peer learning, electronic health records management, and ecommerce enablement for Ayurveda medicines.
“We are preparing ourselves to become the world’s fastest-growing Healthcare company. With such visionary investors on board, we are fast moving towards our goal of transforming the global health care landscape by making Ayurveda doctors and other traditional medicine practitioners a part of the mainstream health care system,” Kumar said.
Tushar Singhvi, Deputy CEO and Head of Investments, Crescent Enterprises commented, “We are excited to embark on this journey with Nirogstreet. The company has demonstrated the immense value and opportunity within the Ayurveda market, which is projected to reach $9.5 billion by 2024, as well as the limitless possibilities that tech-enabled solutions can offer.
Gen Funahashi, CEO at Japan Based Venture Capital, ICMG Partners, said, “NirogStreet is not just a simple Ayurveda E-commerce platform, it brings much more value to the industry than that. I believe that NirogStreet directly addresses many shortcomings of the current Ayurveda industry.”